Introducing wealth business has been one of the top strategic business priorities of State Bank of India (SBI), as it has numerous high net worth individual clients whose banking needs require highly specialised services, SBI Deputy Managing Director (Strategy) J. Swaminathan said here on Wednesday.
Inaugurating the 50th SBI Wealth Centre at the Personal Banking Division, he said the primary task of Wealth Management Business would be to offer best products across categories from leading Fund Houses. “The new facility will give our elite clients a completely new approach for interacting with the bank.”
The customers would also have the flexibility to invest, transact and view their portfolio through digital channels such as internet banking, mobile and remote relationship model.
The SBI tied up with several leading technology and product partners to provide an extensive suite of privilege products and lifestyle benefits. These included top tier credit and debit cards.
Chief General Manager (Chennai Circle), Vinay M. Tonse and CGM (Wealth) Giridhara Kini said the SBI targeted to launch 62 wealth centres by the end of the financial year and hoped to achieve it as well.
The SBI Wealth, which was four years old, already had 1.02 lakh clients and looked to significantly increase the base to 1.25 lakh shortly. With the bank having the trust of customers, it would achieve the goal and ensure that customers’ wealth too enhanced over the period.
There were experts to offer special package for investments in Funds and SBI was the first public sector bank to introduce comprehensive wealth management service, they noted.
The bankers held an interactive session with customers in which senior officials from Madurai region participated.
